3 Ways to Transform Your Money Mindset in 2020

Are you guilty of the kind of mental mania that insists you’ll never get out of debt, earn more money or reach your financial goals? Negative thought patterns are familiar to all of us, especially in the face of financial challenges. The thing is, this type of thinking does absolutely nothing towards solving monetary problems. It does, however, play a huge role in perpetuating them. 

Think about it this way. When you’re late for work, and you run into bad traffic, no amount of yelling at it is going to make it move. You could, however, consider taking a detour. While it might feel comfortable to stick to patterns of worry, this type of mindset isn’t going to move your finances towards success. 

You need to foster a money-making mindset.

1. Stay aware of your thought patterns 

A cycle of negative thinking usually stems from a trigger. It could be a gasp-worthy electricity bill, an unexpected cost that knocks you off-budget or just gazing enviously at a new car you can’t afford right now. Whatever it is, the first step to a money-making mindset is to remain aware of your thought patterns and what triggers them. 

This takes some practice, but it’s imperative in the process of switching those self-defeating thoughts to positive ones that lead to results. The easiest way to monitor your thoughts is via your emotions. If you feel stressed, anxious, worried or nervous about money, chances are it’s time to halt your thoughts and switch them up for better ones. ‘Positive thinking’ isn’t just a self-help slogan. It’s the driver behind taking successful steps to improve your finances and life in general. 

2. Remain focused on solutions

Like the traffic jam example above, focusing on a problem with thoughts of anger, frustration or fear isn’t going to solve it. Let’s say you receive that gasp-worthy electricity bill. It’s fine to gasp – it is exorbitant after all. However, after your initial reaction, stop the energy-sucking mental fight with a bill right there and focus on the solution. Train your mind with the little things so that you can deal with the big stuff. 

For example, perhaps you’re trying to get a new business venture off the ground, but sales just aren’t forthcoming. It’s all too easy to become trapped in thoughts about the negative ramifications of it, leading to worry and wasted time. Instead of focusing on the problem, immediately give your attention to solutions, which might include how you can improve your product or service. Always remember that any time spent focusing negatively on a problem is a wasted opportunity to come up with a solution. 

3. Allow yourself to dream about financial success – without the struggle

It’s fantastic to build your savings and stick to a budget to achieve your financial goals. However, if you focus all your attention on cutting expenses to save, your mindset is likely to be one of lack and deprivation. A money-making mindset is a motivated one and feeling motivated comes from inspiration. 

Make a point of inspiring yourself towards financial success, each and every day. Ponder how you might earn more money, instead of only focusing on slashing costs. Consider what you’d do if the possibilities for earning more were limitless. Create a vision board to highlight ideas and what you want, to keep this in focus. Don’t stop yourself from imagining scenarios that seem impossible. Within each one, there’s a nugget of gold just waiting to jump out like the proverbial light bulb moment. 

When you actively encourage a positive money mindset, you’ll find those light bulb moments happen more and more. That’s good news for you and your wallet. 


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